Bolt buys SeaBotix

Published 11:56 pm, Friday, January 21, 2011

Bolt buys SeaBotix

Norwalk-based Bolt Technology Corp., has acquired San Diego-based SeaBotix Inc., a privately owned company that designs, manufactures and sells underwater remotely operated vehicle systems known as "Little Benthic Vehicles." SeaBotix LBVs are used for maritime security, search and recovery, aquaculture, scientific research, hydro and nuclear energy applications, forensic investigations and off-shore oil and gas drilling platforms and pipelines. The acquisition was funded from Bolt's cash balances. SeaBotix will operate in San Diego as a subsidiary of Bolt. SeaBotix has delivered more than 800 LBV systems to more than 46 countries. Bolt is a developer and manufacturer of marine seismic acquisition equipment used for offshore exploration for oil and gas.

To celebrate the 40th anniversary of its Can Can sale, ShopRite, which has stores in Fairfield County, donated 40,000 cans of food to food banks in New York, New Jersey, Pennsylvania, Connecticut, Maryland and Delaware. A registered trademark of Wakefern Food Corp., ShopRite has always been a partner to food banks in the areas it serves, through its ShopRite Partners In Caring program. Founded in 1999, ShopRite Partners in Caring has given more than $24 million dollars to Food Banks, which has helped to feed millions of people.

GE Capital, Ares see capital increase to $5.1B

Senior Secured Loan Program, jointly managed by New York City-based Ares Capital and an affiliate of Norwalk-based GE Capital, announced that its total available capital has increased from $3.6 billion to $5.1 billion. The available capital provided by GE Capital and its affiliate to SSLP increased from $3.075 billion to $4.125 billion, and the available capital provided by Ares Capital increased from $525 million to $975 million. Additional changes to its program now permit SSLP to hold loans in a principal amount up to $300 million. SSLP closed $784 million in new financing transactions during the fourth quarter of 2010.

MMRF collaborates with Synta for test

The Norwalk-based Multiple Myeloma Research Foundation has entered into a joint collaboration with Synta Pharmaceuticals for the clinical development of ganetespib (formerly STA-9090) in patients with multiple myeloma. The foundation will provide funding of up to $1 million for a Phase 1 trial evaluating ganetespib as a single agent and in combination with the proteasome inhibitor bortezomib for the treatment of relapsed multiple myeloma. Multiple myeloma is a type of blood cancer that originates in plasma cells. It is the most common type of white blood cell cancer and the second most common blood cancer. In 2010, more than 20,000 adults in the United States were estimated to be diagnosed with multiple myeloma and nearly 11,000 people were predicted to die from the disease.